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Fri, 08 May 2026

Fri, 08 May 2026 Housing market 'fragile due to global unrest'

Jersey estate agents say there is uncertainty in the market due to the impact of the conflict in the Middle East.

* Average house prices in Jersey fell by 5% in Q1 2026 compared to the same period in 2025.
* Estate agents and mortgage lenders warn that global uncertainty caused by the Iran War may slow down activity in the housing market.
* Mortgage lender Gary Tumelty expects people to become more cautious due to potential interest rate increases, which could lead to a slowdown in applications.
* Jersey estate agent Bradley Vowden predicts tougher months ahead for the market, with prices potentially decreasing as a result of global uncertainty and high living costs on the island.
* The average cost of a three-bedroom house in Jersey is £695,000, making it difficult for many couples to afford due to affordability issues.
* Mortgage lenders report an increase in applications, but also note that transactions are taking longer due to difficulties with securing mortgage offers.